Cooking oil, eggs, and cigarettes drive inflation in August: BI

Cooking oil, eggs, and cigarettes drive inflation in August: BI

A screenshot of Bank Indonesia's Communication Department Head Erwin Haryono. ANTARA/Kuntum Riswan.

With this development, the inflation on a calendar year basis is estimated to reach 0.85 percent (year-to-date) and 1.60 (year-on-year) on an annual basis.
Jakarta (ANTARA) - Commodities, such as cooking oil, tomatoes, broiler eggs, and filtered clover cigarettes, drove inflation until the third week of August 2021, according to the Bank Indonesia (BI) Price Monitoring Survey (SPH).

The survey has projected inflation to reach 0.04 percent on a monthly basis (month-to-month or mtm) until the third week of August 2021.

“With this development, the inflation on a calendar year basis is estimated to reach 0.85 percent (year-to-date) and 1.60 (year-on-year) on an annual basis,” BI’s communication department head Erwin Haryono noted in a press statement here on Friday.

The SPH-based inflation monitoring is still similar to the survey conducted by BI until the second week, according to Haryono.

BI furnished details on the inflation contributors until the third week of August 2021 comprising cooking oil, at 0.03 percent (mtm); tomatoes, 0.02 percent (mtm); broiler eggs and filtered clover cigarettes, each at 0.01 percent (mtm).

Meanwhile, some commodities experiencing deflation were cayenne pepper, at -0.05 percent (mtm); red chilli pepper, -0.02 percent (mtm); and water spinach, spinach, mustard greens, long beans, orange, gold jewelry, and intercity transportation each at -0.01 percent (mtm).

Erwin remarked that BI will bolster coordination with the government and related authorities to carefully monitor transmission dynamics pertaining to COVID-19 along with its impacts on Indonesia’s economy from time to time.

The central bank will also intensify coordination for further requisite policies to be taken to maintain macroeconomy and financial system stability as well as support Indonesia’s economic growth to remain sound and resilient.

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